JPY Trading Outlook (30-10-2013)
The overall outlook for the AUD took a bearish turn yesterday as it lost ground and broke through important technical levels against many of the other majors. AUD/NZD broke back below 1.1500 but I will stick to my shortish-term bullish outlook here; most likely we are in a 1.1350/1.1650 consolidation range. AUD/JPY is still hanging around 93.00 but momentum has definitely shifted from bullish to neutral at best. GBP/AUD and EUR/AUD broke above important short-term resistance levels and buying dips looks like the best way to play both of these pairs in the short term.
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